AI
Wednesday, November 08, 2017 12:26:59 PM
Recently, several leading online travel sites come under pressure after reporting earnings. Expedia Inc (NASDAQ:EXPE) started the decline in the online travel stocks on October 27, 2017 when the shares dropped by 18.1 percent. Since the EXPE earnings report other online travel stocks such as The Priceline Group Inc. (NASDAQ:PCLN) and TripAdvisor, Inc. (NASDAQ:TRIP) have fallen lower as well. Needless to say, this industry group is under pressure.
Expedia Inc (NASDAQ:EXPE) shares traded as high as $154.24 on October 20, 2017. Today, EXPE is trading around $118.24 a share. The stock is also trading below its weekly 50 moving average which indicates weakness on the charts. Traders and investor now have to look much lower for major institutional sponsorship. The next major support area for EXPE stock will be around the $95.00 level. This area is where the stock was defended back in February 2017. Traders and investors need to be patient with this equity as the trend is down and further declines look likely in the coming months.
Nicholas Santiago
InTheMoneyStocks
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